{"id":600450,"date":"2019-01-30T04:19:28","date_gmt":"2019-01-30T04:19:28","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/30\/fitch-pours-cold-water-on-egypts-new-administrative-capital-railway\/"},"modified":"2019-01-30T04:19:28","modified_gmt":"2019-01-30T04:19:28","slug":"fitch-pours-cold-water-on-egypts-new-administrative-capital-railway","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/30\/fitch-pours-cold-water-on-egypts-new-administrative-capital-railway\/","title":{"rendered":"Fitch pours cold water on Egypt\u2019s new administrative capital railway"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <b>Fitch pours cold water on new administrative capital rail link: <\/b>Plans to construct an electric railway line connecting greater Cairo to the new administrative capital (NAC) face \u201cserious obstacles,\u201d <a href=\"https:\/\/www.fitchsolutions.com\/infrastructure-project-finance\/weak-viability-plagues-egypts-electric-railway-and-new-city-plans-25-01-2019\">Fitch Solutions said in a report (paywall)<\/a> last week. Egypt <a href=\"https:\/\/enterprise.press\/stories\/2019\/01\/17\/egypt-secures-usd-1-2-bn-china-eximbank-loan-for-nac-light-railway\/\">recently agreed<\/a> to borrow USD 1.2 bn from China\u2019s Export-Import Bank to cover part of the construction costs, the first tranche of which <a href=\"https:\/\/enterprise.press\/stories\/2019\/01\/28\/chinas-eximbank-to-disburse-first-tranche-of-nac-light-railway-loan-within-a-month\/\">will be disbursed<\/a> in February. Fitch says that it is uncertain about the economic viability of the line, given the fact that the new capital remains devoid of permanent residents, adding that there is not yet demand for such a major infrastructure project. Fraught negotiations and financing issues are also likely to result in \u201clengthy delays,\u201d making the transport minister\u2019s two-year timeframe look incredibly optimistic.<\/p>\n<p><b>Fitch needs to re-think this one. <\/b>Surely we\u2019re not the only ones who remember, 20 years ago, the endless gnashing of teeth about how New Cairo and Six of October would never become viable municipalities because there were no mass transit links to the rest of Cairo? In worrying about financing and delays? Fitch is on point. But in questioning whether mass transport should be built in now? They\u2019ve missed the boat.<\/p>\n<p><b>Healthcare looking \u201cincreasingly attractive\u201d to foreign investors, says Fitch: <\/b><a href=\"https:\/\/www.fitchsolutions.com\/corporates\/healthcare-pharma\/continued-reform-egypts-healthcare-and-pharmaceutical-sectors-creates-opportunity-28-01-2019\">In a more optimistic evaluation (paywall)<\/a>, Fitch says that the government\u2019s commitment to reform is making the healthcare and pharma sectors increasingly attractive to foreign investors and multinational companies. Plans for a universal healthcare system, the creation of a new pharmaregulator, and the 2017 investment law will \u201cboost demand \u2026 improve the business environment and incentivize foreign investment,\u201d they write. <b>A word of caution:<\/b> The country\u2019s \u201crestrictive\u201d med pricing system and the aftereffects of the float of the EGP will continue to weigh on the sector\u2019s profitability for foreign investors.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Fitch pours cold water on new administrative capital rail link: Plans to construct an electric railway line connecting greater Cairo to the new administrative capital (NAC) face \u201cserious obstacles,\u201d Fitch Solutions said in a report (paywall) last week. Egypt recently agreed to borrow USD 1.2 bn from China\u2019s Export-Import Bank to cover part of the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[7106,72,7115,7111,875,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-600450","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-debt","tag-enterpriseam","tag-healthcare","tag-infrastructure","tag-new-administrative-capital","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"b0a6b8a7-5a0d-4e9e-85e8-d97ce49f51e4","is_powered_by":true,"section_story_id":"4f372933-c872-4b9a-aa44-893c29212320","story_type":"1","photo_url":"","photo_position":"above","related_issue":[600438],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Fitch pours cold water on Egypt\u2019s new administrative capital railway - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2019\/01\/30\/fitch-pours-cold-water-on-egypts-new-administrative-capital-railway\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fitch pours cold water on Egypt\u2019s new administrative capital railway\" \/>\n<meta property=\"og:description\" content=\"Fitch pours cold water on new administrative capital rail link: Plans to construct an electric railway line connecting greater Cairo to the new administrative capital (NAC) face \u201cserious obstacles,\u201d Fitch Solutions said in a report (paywall) last week. Egypt recently agreed to borrow USD 1.2 bn from China\u2019s Export-Import Bank to cover part of the [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/01\/30\/fitch-pours-cold-water-on-egypts-new-administrative-capital-railway\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-01-30T04:19:28+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/01\/30\/fitch-pours-cold-water-on-egypts-new-administrative-capital-railway\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/01\/30\/fitch-pours-cold-water-on-egypts-new-administrative-capital-railway\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Fitch pours cold water on Egypt\u2019s new administrative capital railway\",\"datePublished\":\"2019-01-30T04:19:28+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/01\/30\/fitch-pours-cold-water-on-egypts-new-administrative-capital-railway\/\"},\"wordCount\":312,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"debt\",\"EnterpriseAM\",\"healthcare\",\"infrastructure\",\"new administrative capital\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/01\/30\/fitch-pours-cold-water-on-egypts-new-administrative-capital-railway\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/01\/30\/fitch-pours-cold-water-on-egypts-new-administrative-capital-railway\/\",\"name\":\"Fitch pours cold water on Egypt\u2019s new administrative capital railway - 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